Biden's cancellation of a $130 million student loan for Colorado College's "deceptive practices"

Forgiveness of $130 million in federal debt for 7,400 students enrolled at a Colorado institution that the government accused of misleading practices was announced by the Biden administration on Tuesday. 

According to the Department of Education, CollegeAmerica, which had three sites in Colorado, closed down permanently in 2021 as a result of a winning state lawsuit.  

The verdict was appealed by the Center for Excellence in Higher Education, which ran CollegeAmerica. 

According to Colorado Attorney General Phil Weiser, CollegeAmerica intentionally took advantage of students by luring them in with pricey but inferior programs and 

making misleading claims about their ability to place them in high-paying jobs. Weiser stressed that their office remains committed to protecting borrowers from 

predatory lending and helping Coloradans who are struggling with student loan debt when he shared this information in a news release on Tuesday. 

We were unable to get in touch with the organization behind CollegeAmerica, the Center for Excellence in Higher Education, for comment. 

The group sued the Department of Education last year, citing inappropriate targeting of their institutions and illegal withholding of cash, 

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